Multiple bidders responding to lower rates
If you were wondering about the impact of the recent cuts to home loan interest rates by several of the ‘Big Four Banks’, the fact that the Barry Plant group achieved a healthy 90 per cent auction success rate this week probably tells you quite a bit.
In fact, our team at Barry Plant Moonee Valley saw spirited competition between as many as five separate bidders at several of our auctions, but it wasn’t just the auctions producing results with some very strong sales being completed through a variety of marketing methods.
Here’s a summary of some of our most recent sales:
Airport West: 3/24 Coniston Avenue. This was our second sale in the space of a few weeks in this group of townhouses currently under construction in Airport West. This time a three-bedroom residence was sold for $830,000.
Essendon: 502/1050 Mt Alexander Road. Utilising our extensive database of registered buyers, this one bedroom apartment was sold using a quiet off-market campaign for $360,000.
Essendon North: 1/10 Orange Grove. Offering a low maintenance lifestyle with its own street frontage and no Owner’s Corporation, this two bedroom villa sold for $850,000 at this week’s auction after five bidders competed for the keys.
Keilor East: 1 Byron Avenue. Situated on a well located corner block of around 462sqm, this three-bedroom home made the most of this week’s auction, selling for $740,000.
Keilor East: 20 Janet Street. Attracting strong interest from several local investors, builders and developers, this three-bedroom home achieved a satisfying mid-week sale at $1.02 million.
Keilor East: 35 Cecelia Drive. Offered for sale for the first time, this accommodating five-bedroom home in a family-friendly cul-de-sac saw five bidders push the price well beyond our vendor’s reserve before being knocked down at a little over $1.09 million!
Niddrie: 55 Grandview Road. This striking luxury home of four bedrooms and four bathrooms located a short walk from the cafes on Keilor Road produced smiles all round when it was sold for $2.2 million (pictured).
Results like these show that an increasing number of people are becoming aware of the changing state of the property market in our part of Melbourne. In fact, you may be thinking about making your own move in the coming months, so if you need any assistance in making your plans a reality, you can give the team at Barry Plant Moonee Valley a call this week on 9373 0000.
Regards,
Bill Karp
Director – Barry Plant Real Estate
Essendon, Keilor East & Gladstone Park